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B101 slideshow B101 slideshow Presentation Transcript

  • Springboard Credit.org Springboard FIT Academy BUDGETING 101
  • Start right now
  • Borrowing
  • Use cash, not credit
  • Relax
  • Springboard Credit.org Budgeting 101 Part 2
  • Track your spending
  • Track everything
  • Spending categories
  • Spending categories
  • Spending categories
  • Spending categories
  • Spending categories
  • Springboard Credit.org Springboard FIT Academy BUDGETING 101
  • Springboard Credit.org Budgeting 101 Part 3
  • Calculate your income
  • Paycheck planning
  • Monthly Income Source Job Spouse’s Job Part-Time Job Rental, Room & Board Received Commissions, Bonuses Tax Refund Government Benefits Child Support/Alimony Support from Family/Friends Personal Loans Collected Other Total Monthly Income
  • GARAGE SALE
  • For S ale
  • $
  • Springboard Credit.org Budgeting 101 Part 4
  • Setting Goals
  • x
  • Short-term
  • Mid-term
  • Long-term
  • Financial Goal A new car Amount Needed $14,400 Target Date 36 months # of Pay Periods Until Due Date 72 Savings Needed Per Pay Period $200
  • Financial Goal A new car Amount Needed $14,400 Target Date 48 months # of Pay Periods Until Due Date 96 Savings Needed Per Pay Period $150
  • Springboard Credit.org Budgeting 101 Part 5
  • Add it up Total expenses Debt payments + Goals + Total monthly = expenses:
  • Balance Total monthly income Total monthly expenses - Balance (x/-) =
  • Necessary Expenses Current Proposed Housing Rent/Mortgage 2nd Mortgage Property Taxes Insurance Necessary HOA Dues Gas/Electricity Water/Sewer/Trash Telephone Food Groceries Dining Out At work/school Insurance Life expenses Health/Dental Disability Medical Care Doctor Optometrist/Lenses Dental Prescriptions Transportation Car Payment 1 Car Payment 2 Insurance Gas/oil Repairs DMV/Smog Tolls/Parking Public Transportation Child Care Daycare/Sitting Child Support/Alimony Miscellaneous Banking Fees Laundry Other Income Taxes Prior Year Estimated Tax Payments Savings Emergency Goals Total Essential Expenses
  • Discretionary Expenses Current Proposed Personal Beauty/Barber Clothing/Jewelry Cosmetics Discretionary Manicure/Other Entertainment Cable Movie/Video Dining Out Sports/Hobbies/Clubs Vacations/Travel Books/Magazines MP3/Concerts expenses Miscellaneous Pet Care/Vet Gifts Cell Phone Postage Cigarettes/Alcohol Donations/Tithing Internet Access Other Total Discretionary Expenses:
  • How your spending should look
  • 35- 45%
  • 15%-25%
  • 8%-15%
  • 10%-20%
  • 8%-15%
  • 3%-5%
  • 5%-10%
  • 5%-10%
  • 10%-20%
  • About us Contact Us: 800.431.8456 Email: education@credit.org Twitter: www.twitter.com/CreditDotOrg Facebook: http://www.facebook.com/CreditDotOrg LH ON A OUS N OF INDE TIO IA PE I OC ND NAT IN G EN ASS T C O NSU M IE S ION CO UN BBB ENC I AT AG ™ ELI N G ASSOC ER CR G IN S ED IT C O U N S E L HUD Approved TM